New Zealand: Shares Snap Five-Session Losing Streak.

New Zealand's equities rose 23 points, or 0.2%, to 12,490 in morning deals on Wednesday, halting losses from the prior five sessions. The gains tracked a rise on Wall Street overnight, supported by easing geopolitical tensions and a further fall in oil prices. The NZX 50 moved away from its lowest level in nearly three weeks, which it hit the day before due to escalating tensions in the Middle East. Domestically, New Zealand's trade surplus widened sharply to NZ$1.2 billion in May from NZ$54 million in May 2024, above market forecasts of NZ$1.1 billion. However, a statement from Fed Chairman Powell before Congress - saying the central bank is in no rush to cut interest rates - capped the gains. Energy stocks, financials, industrials, and tech sectors mainly drove the index. Heavyweights such as ANZ Group, Fisher & Paykel, and Gentrack Group climbed 0.7% each, while Colonial Motor gained 1.7%, Infratil rose 0.8%, and Seeka increased 1.0%.